Zinc prices rose due to the steady trend in base metals while a rise in the demand at the local spot markets also supported the prices. Zinc futures for January 2012 contract, at MCX, were trading at Rs. 99.30 per kg, up by 0.97% after opening at Rs. 98.05 against the previous closing price of Rs. 98.35. It touched the intra-day high of Rs. 99.65 till the trading. (At 3.50 PM today).
Zinc is the fourth most widely used metal after steel, aluminum and copper in the world.
The Indian zinc industry entered its transformation phase with the privatization of the largest zinc producer, Hindustan Zinc Ltd, in favour of the Sterlite group in April 2002.
The domestic zinc industry is now completely under the private sector and is in the midst of a serious expansion programme.